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QuickBridge Releases eBook on the Impact of Tariffs on U.S. Small Businesses

September 26, 2019, 07:10 AM
Filed Under: Regulatory News

QuickBridge, a privately held, alternative lender offering small business loans nationwide, released an eBook on the impact recent tariffs have had on small businesses in the U.S.

QuickBridge’s “Tariffs and Small Businesses: Exploring the Real-World Implications of Recent Tariffs” presents survey results from 300 small business owners who were asked how recent tariffs affect their business from an economic perspective. QuickBridge presents these results and explores current ideology around tariffs and their overall economic impact in the eBook.

The eBook also discusses how small business owners can use financing as an effective tool for business change and limiting risk in the face of new tariffs.

Results from the survey reveal that recent tariffs are impacting sales for more than half of those polled. And it was also discovered that many small business owners increased prices as a result of tariffs. Most respondents also believe that tariffs will lead to price increases from their vendors.

All of this adds up to a situation in which most of those polled said they believe tariffs will have an impact on their growth strategies and nearly 50 percent think the tariffs have a negative effect on the economy. This is one issue where there is a strong divide, with more than 30 percent of respondents saying the tariffs will have a positive impact on the U.S. economy.

These results point to just how much uncertainty can stem from tariffs. Planning ahead can be tricky with small business owners so torn about how tariffs will impact their growth.

“While some small business owners polled seem to be adopting a ‘wait and see’ attitude, we’re finding that many are preparing now for another round of tariffs by taking out loans and reinvesting in their business,” said Ben Gold, President of QuickBridge.

Download the eBook here for the full results of the survey and a closer look at how tariffs impact small business owners.

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